Omnicom Group Inc. $OMC Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Omnicom Group by 42.7%, acquiring an additional 887,415 shares to own approximately 1.52% of the company, valued at about $245.9 million.
• In recent analyst reports, Omnicom Group has received mixed reviews, with price targets ranging from $78.00 to $104.00, reflecting adjustments and ratings from multiple financial institutions.
• Omnicom Group announced a $0.70 quarterly dividend, set to be paid on October 10th, showing an annualized dividend yield of 3.6%.

Goldman Sachs Group Inc. raised its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 42.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,965,974 shares of the business services provider's stock after purchasing an additional 887,415 shares during the period. Goldman Sachs Group Inc. owned 1.52% of Omnicom Group worth $245,909,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its position in shares of Omnicom Group by 2.2% in the fourth quarter. Ameriprise Financial Inc. now owns 145,652 shares of the business services provider's stock valued at $12,550,000 after purchasing an additional 3,068 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Omnicom Group by 4.9% in the fourth quarter. Captrust Financial Advisors now owns 12,604 shares of the business services provider's stock valued at $1,084,000 after purchasing an additional 593 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of Omnicom Group by 708.8% in the fourth quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock valued at $40,000 after purchasing an additional 404 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Omnicom Group by 2.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 40,255 shares of the business services provider's stock worth $3,464,000 after acquiring an additional 995 shares during the period. Finally, Ensign Peak Advisors Inc grew its holdings in shares of Omnicom Group by 9.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 90,850 shares of the business services provider's stock valued at $7,817,000 after purchasing an additional 7,551 shares during the period. Hedge funds and other institutional investors own 91.97% of the company's stock.

Analyst Upgrades and Downgrades

OMC has been the topic of a number of analyst reports. Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research note on Monday, June 23rd. Wells Fargo & Company reduced their target price on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 16th. Barclays downgraded shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $94.43.

Omnicom Group Trading Down 0.9%

NYSE:OMC traded down $0.70 during trading hours on Friday, reaching $77.14. 3,292,519 shares of the stock were exchanged, compared to its average volume of 3,022,477. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average of $75.31 and a two-hundred day moving average of $75.61. Omnicom Group Inc. has a twelve month low of $68.37 and a twelve month high of $107.00. The company has a market capitalization of $14.94 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 1.54 and a beta of 0.97.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The company had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.95 billion. During the same period in the prior year, the firm earned $1.95 earnings per share. The firm's revenue was up 4.2% compared to the same quarter last year. On average, equities analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group's dividend payout ratio is currently 40.17%.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.